day traders thread, page-163

Let me add here. I am a trader and not an investor ever since. I bought LYC on the following :
1. SP is trending up for about two months. That is even if DJ and AllOrds are down.
2. SP is above 10/20 EMA which is a good sign.
3. RSI is not showing overbought condition.
4. Fundamentals - RARE Earth...no need to explain this.
5. JP Morgan buying. See

http://www.theaustralian.com.au/business/city-beat/jp-morgan-snaps-up-10pc-of-centennial-coal/story-fn4xq4cj-1225862972285.

What a coincidence that they became a substantial holder 4 dys before Banpu's announcement.

Anyway, the above are my trading edges.

I do not know if SP is would go up or down. I have put an ample amount of cash with stop-loss in place based on my own risk management. I am prepared to accept a loss since my trading rules dictate that I have the potential to gain more. I have a target price of $2.00.

As a trader, I buy on the dips when SP is down. I am hoping for another lucky buy. My last good one was CEY.
CEY was bought by Banpu at a price unexpected by most analyst. Valuation was $3.00 and Banpu was buying at $6.20. Who knows what the Chinese or Americans would pay LYC for something that they would only want to control.

Also, I am not a day trader but more of a position trader.

There maybe some truth to screenjockey's charts but that is his chart which I am not using and does not match with my trading period.

As with any speculation, I could be wrong or right so DYOR.